Blockchain Press Releases
Expanded Use Cases and Ecosystem Integration to Reignite Wearable Market with 689 Million Shipments in 2028
NEW YORK, Aug. 17, 2023 /PRNewswire/ — Wearable demand growth declined to 14.6% YoY in 2022 from 27.7% YoY in 2021 due to the economic slowdown and reduced spending after the peak of the COVID pandemic. This trend persisted in the first half of 2023, as longer replacement cycles and a lack of compelling features suppressed consumer demand. However, global technology intelligence firm ABI Research predicts that the overall wearables market will rebound, reaching 689.33 million shipments by the end of 2028, with a CAGR of 11.3% between 2023 and 2028. In 2023, the wearable market is projected to grow by approximately 10.2% YoY, with shipments expected to exceed 400 million units. The market is forecasted to recover in the latter half of 2023 and continue growing in the subsequent years, driven by expanded use cases and ecosystem integration.
“Advancements in areas such as connectivity and integrated sensors, followed by the availability of advanced features at low price points and user upgrades, will help drive consumer interest and result in the growth of the wearables sector in the coming years,” says Sachin Mehta, Senior Analyst, Consumer Technologies at ABI research.
In 1Q 2023, the smartwatch and activity fitness tracker sectors experienced YoY declines of 3% and 9%, respectively. These declines were primarily due to seasonal factors and an excess inventory buildup in the channel. The smartwatch market has been evolving with new use cases, features, and sensors. Emerging countries, particularly India, offer significant growth potential, with India contributing one in four smartwatches shipped globally. Fire-Boltt, an Indian brand, has made a remarkable ascent, securing the second spot in the global smartwatch market with a 10.1% share, just behind Apple (21.6%) and ahead of Samsung (9.2%).
According to Mehta, “On the other hand, activity and fitness trackers are facing a downward trend due to competition from smartwatches. However, the category is expected to persist as it caters to a dedicated user base seeking simplicity and affordability with basic functionalities.” In 2022, Xiaomi (35.2%) led activity and fitness tracker shipments, followed by Huawei (23.7%) and Fitbit (15.8%).
Smart rings, a newly tracked category in wearables, have experienced a recent surge in demand, promising to drive future growth in the wearables market. In 2022, 17.2 million smart rings were shipped, and this is projected to grow by 10.0% YoY, reaching 18.9 million units in 2023 and exceeding 50 million units by the end of 2028, with a CAGR of 21.9% between 2023 and 2028.
Despite being a niche and relatively new segment compared to other wearables, smart rings have great potential, serving various use cases such as contactless payments, access control, health tracking, and smart home integration. However, their higher cost due to premium materials, advanced sensors, and some models having additional monthly subscriptions make them relatively expensive for the masses. “Nevertheless, ongoing technological advancements and the rise of new brands are expected to bring down smart ring prices, leading to increased adoption and better price parity than other wearables. The sector’s growth will likely be accelerated with the introduction of an Apple smart ring patent and the launch of smart rings by numerous start-ups, establishing a significant portion of the wearables market,” Mehta says.
Introducing 5G in wearables and accessories will be pivotal in this market’s evolution. Real-time data transmission and processing capabilities will unlock a wide range of new functionalities and use cases for wearables. Health care will be at the forefront of this transformation, with exciting prospects for remote patient monitoring and advancements in fitness applications. As a result, high-end wearables sales are likely to experience a surge in the coming years due to increased demand for advanced use cases.
“Although it may take some time for 5G Advanced and the 5G RedCap feature to fully integrate into devices like smartwatches, TWS headsets, and personal tags, once it happens, there will be a noticeable incremental jump in shipments within this sector. The implementation of 5G technology is expected to have a significant impact, revolutionizing wearables’ capabilities and driving further market growth,” Mehta concludes.
These findings are from ABI Research’s Wearables and Mobile Accessories Market Share and Forecasts market data report. This report is part of the company’s 5G Devices, Smartphones & Wearables research service, which includes research, data, and analyst insights. Market Data spreadsheets comprise deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight into where opportunities lie.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
ABI Research是一家国际科技情报公司，为全球科技领袖、创新人士和决策者提供实用的市场研究和战略性指导。我们密切关注一切为各行各业、全球经济和劳动市场带来颠覆性变革的创新与技术。
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel: +1.516.624.2558
[email protected]
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Blockchain Press Releases
Compass Mining Scales Texas Operations with 25 MW Bitcoin Mining Facility, Plans Further Expansion
Energizes Over 50 MW in 2024 Across Six States, with 35 MW Coming Online by January 2025
WILMINGTON, Del., Dec. 20, 2024 /PRNewswire/ — Compass Mining (“Compass” or the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, proudly announces the addition of a new 25 megawatts (MW) Bitcoin mining facility in Texas to its growing network of North American operations. The facility is already fully built out and will be operational with an initial 5 MW of capacity by year’s end, scaling to 25 MW in early January 2025. Compass also plans to expand the facility’s capacity to 60 MW by Q3 2025.
The new Texas facility will house a mix of relocated machines from Compass’s existing sites, as well as newly deployed units, ensuring continuity for current customers while offering new clients a seamless and turnkey Bitcoin mining experience. By January 2025, new customers purchasing machines through Compass’s platform will have the option to deploy them at the “Texas 6″ site.
“Our new Texas facility represents another milestone in our mission to make bitcoin mining more accessible for everyone,” said Paul Gosker, CEO of Compass Mining. “We bring a wealth of experience from successfully operating at multiple locations across Texas, navigating the unique grid dynamics and leveraging local resources. For this site, we will provide our support and expertise, including assisting our site partner in hiring expert technicians who meet Compass’s high standards. This ensures high uptime and reliability, delivering the quality our customers expect.”
Compass’s strategy combines vertical integration through proprietary facilities, such as the new Iowa 4 site, with partnerships at third-party facilities renowned for high uptime and reliability. This dual approach allows the company to maintain operational flexibility while delivering reliable hosting solutions. The company has energized a total of approximately 50 MW of power capacity across mining facilities in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas in 2024, with plans to add another 35 MW by January 2025.
About Compass Mining
Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.
Media Contact
BlocksBridge Consulting
[email protected]
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DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be extending the festive fun with lavish virtual gifts for Bybit Card holders. From Dec. 20, 2024 to Jan. 31, 2025, with every swipe of their Bybit Card, users may get a chance to unwrap mystery gift boxes, including 1,000 in USDT and other exciting airdrops from DOGE to BTC—all rewards, no catches.
For each 100 USDT spent in eligible purchases with the Bybit Card, users will receive a lucky draw ticket to redeem a gift box on Bybit. Each gift box promises a crypto reward—from Christmas baubles in DOGE, SOL, ETH, XRP and BTC airdrops, all the way up to the grand prize of 1,000 in USDT. Registration is required and the special Holiday Giveaway ends at the end of Jan. 2025.
For users looking for a convenient way to utilize their crypto assets for daily spendings and debit payments, it is not too late to apply for the Bybit Card. The application and verification process takes minutes, and a virtual card will be issued as soon as the card is approved, enabling seamless digital payment on Apple and Android devices in applicable regions.
“The Bybit Card takes the hassle out of crypto off-ramp for regular users and weaves rewards and benefits into daily spendings. On top of regular cashbacks, we are introducing extra perks as our token of thanks to wrap up an eventful year in crypto,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card made expansive global footprints 2024 as crypto adoption continues to rise in the past year. Trusted and frictionless crypto payment solutions are in demand in various parts of the world, and Bybit is one of the natural habitats of crypto native consumers. Spanning from Buenos Aires to Amsterdam, the Bybit Card community is growing and so are the perks:
- Up to 10% cashback in USDT, BTC and ETH on eligible purchases
- Zero fees for instant virtual card issuance
- Zero annual or hidden fees
- Up to 8% APY
Enjoy this festive season in all its splendor. Eligible Bybit Card holders from all regions are welcome; terms and conditions apply: Bybit Card Holiday Giveaway: Swipe, Spend & Sparkle!
#Bybit / #TheCryptoArk #theBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Bybit P2P Unlocks 20,000 USDT Prize Pools for Select Users in South Asia and Africa
DUBAI, UAE, Dec. 20, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, will be concluding 2024 with lucky spins all around for eligible users on Bybit P2P. With a chance at two grand bonus pools of 10,000 USDT each, select users in parts of South Asia and Africa stand to make the most of their P2P trades at Bybit.
From now to Dec. 31, 2024, eligible users may create their own P2P trading bonus at Bybit and unlock 100% chance of winning:
- South Asia: Eligible users in South Asia may sign up for the Grand Spin Extravaganza
- Africa: Eligible users may register to enter the P2P Prize Spinner
Successful participants may complete one or more referral, deposit, or trading tasks to earn up to 10 Lucky Draw Tickets. Tasks start at beginner level including a first-time deposit of 10 USDT. With a Ticket, users get to spin the wheel of fortune for a guaranteed airdrop from the 10,000 USDT Prize Pool.
As communities in the Global South start to build and diversify their wealth, millions are in dire need of modernized and inclusive financial infrastructures. The digital asset class offers an alternative for grassroot investors in emerging markets, demonstrating transformative power to shape the future of growth.
Bybit’s peer-to-peer trading platform provides user-friendly and trusted tools for P2P merchants and buyers. Users can compare and execute trades at an optimal price agreed upon by both parties, carried out on Bybit’s ultra smooth trading platform at zero fees. Supporting over 60 fiat currencies and over 300 payment methods, Bybit P2P contributes to democratizing access to the digital economy.
Users who have completed Bybit Identity Verification Level 1 may log in to confirm their eligibility. Terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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